Microsoft and Alphabet opt out of tokenized stocks in latest blow to ambitious plan from OKK and NYSE parent firm

A growing number of companies are pushing back against tokenized trading of their shares. Microsoft and Alphabet are the latest to complain about the practice, joining 14 other public companies that have formally objected to a plan by OKXICE, a new platform co-chaired by former New York Gov. Andrew Cuomo, to trade blockchain-based versions of their shares. The two tech giants joined Goldman Sachs, Caterpillar, McDonald's, Qualcomm and Western Digital in a new batch of objections disclosed Monday. They joined nine companies—Cerebras Systems, AppLovin, Applied Digital, Rocket Lab, CoreWeave, Verizon, Applied Optoelectronics, Broadcom and UnitedHealth Group—whose objections were disclosed last week.